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Neuspillerm has teamed up with Richard Petroni, a hydraulic and civil engineer from New York, to launch a Kickstarter, raising funds for more exploration into The Eye.

The unusual Eye island is it is seen on Google Maps online (Image: Google maps)

"We have discovered a mysterious island near the Parana river, which, intriguingly, moves and rotates on its own axis," Petroni said in a press release.

"Besides, it features a neat circular structure bordered by another perfectly circular streak of water.'

"It's something real and accounts for several supernatural stories bearing connections to UFOs and other paranormal aspects."

Tech expert and telecommunications company founder Pablo Martinez is also working on the project, which began after a chance sighting as the film crew were investigating settings for paranormal shootings, including ghost and alien sightings , six months ago.

Spotting the island first online, the team headed to see it in real life.

There are those who believe the Eye is hiding an alien base on Earth (Image: The eye)

"When locating this reference in the map we discovered something unexpected that left the film project in the background, we call it 'The Eye'," says Neuspillerm in the Kickstarter video, adding: "The Eye is a circle of land surrounded by a thin channel of water with a diameter of 130 yards.

"Both circles [the water and land] are so perfect that it is hard to believe that this is a natural formation."

It was only on their second try, after eight hours of hiking, that the team finally traversed The Eye's marshy surroundings.